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Former Member
Jun 03, 2010 at 09:01 AM

Tax Free Amount

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Hello,

I am working with a UK based client. They have an issue which is related to the values to be maintained in table T706F. There is one field called Tax Free Amount. Please can someone tell me the concept behind the tax free amount? What exactly is this field expected to do? What is the meaning of tax free amount in context with Reimbursement Amount and Fuel/petrol Share? What value needs to be put in there? I know the obvious answer to the last question is whatever the govt has declared. But what I am really interested in finding out is the actual meaning and implication of the Tax Free Amount field and how it participates in the accounting document that gets generated when we post a trip.

I am not a HR consultant. I am a FICO consultant and hence would appreciate if someone can please explain in layman's language. The F1 documentation didn't help me at all.

Regards,

Suvarghya